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WTI rebounds from $40 amid decline in oil rigs

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Nov 23, 2015.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    Oil concluded last week with an improved sentiment from investors following a sharp drop of US oil rigs at the end of the trading week. The steep drop of US oil rigs has increased optimism that the growing inventories from the US might have hit a peak, however we have also heard this many times in the past. Investor sentiment remains continuously haunted by an aggressive oversupply of Oil in the markets and even if US production is slowing down, other producers such as Russia and Saudi Arabia

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